Recent Topics
Allowable Costs
My property became buy to let on November 30, 2016. I had legal costs and mortgage arrangement fees. I am now about to submit my statements for the year January - December 2017, I would like to know if my mortgage arrangement fees, legal fees and service charges from November 2016 can be claimed as allowable expenses? Thank you.
New power team member - Rent on Time (get your money even if the tenant does not pay you)
Hi all I am delighted to announce that we have a new power team member in David McNeil. He runs a company called Rent On Time, whereby landlords get paid irrespective if the tenant pays or not. This is underwritten by an insurance company. They also evict tenants and pay for the legal process whilst still paying out rent. They charge just 4% of the monthly rent so worth a look. Please do look at their website (whom I might add are a NLA partner): http://www.rentontime.co.uk I am doing a client webinar
Want to eliminate Stamp Duty Land Tax (SDLT) when buying properties? I have good news as you can
Instead of buying individual properties you may wish to buy a portfolio that is within a limited company. As such you will pay 0.5% Stamp Duty and avoid the graded SDLT charge as well as avoiding the 3% surcharge. As such you may wish to look at the companies that has a SIC code 68200 – Real Estate Owner http://www.optimiseaccountants.co.uk/reducing-the-impact-of-stamp-duty-land-tax-sdlt/#.V9gKV1c9aZx Companies for sale with SIC code: 68200 (you may need to do some work to look for them – but
Do the numbers stack up?
I am once again back on the speaking circuit and it is really interesting when I hear people about property due diligence. There are some people that are over confident and optimistic and then there are people that are over precautious. I wrote an article a while ago to help you and other property investors get a good understanding of the type of costs that needs to be considered when doing due diligence. In this article I have focused my efforts on the Top 5 Key Performance Indicators for
VAT for property investors
Hi all, Please note that I have now recorded the "VAT for property investors" webinar and is now live on the Vault
How to extract cash out of your limited company?
A lot of people are now looking to utilize limited company structures for their property investments. The question remains, how do you pull money out of the company. There are three different tax efficient ways to pull money out of a company. If you would like to know what they are please press on the below url http://www.optimiseaccountants.co.uk/paying-yourself-out-of-a-limited-company-for-2016-17/#.V8mtXFc9aZy
Face to face events - London
Hi all Thanks for those that attended the very first London face to face event. It was amazing how the conversations and debates went in regards to: - The budget announcement changes - The state of the property market - Using limited companies to avoid tax - How to mitigate the 3% SDLT surcharge - How to reduce VAT on your refurbishment costs - The fact that buying commercial properties in a pension is no mad thing or to convert them into residential properties - Ways in which you can take money
Joint Ventures webinar
Hi all, Please note that the Joint Ventures webinar is now live and stored in The Vault
Event dates for 1) Webinar and 2) Client face to face events
Monday Night Webinar I am running a Joint Venture webinar this coming Monday 29th August (already) at 6.30pm Understand why you need a JV partner Due diligence on each JV partner Defining roles and responsibilities Working out the right structure for the partnership Going through the financials such as loans and equity stake How to split the profits in a tax efficient way Please book your slot here: https://optimiseaccountantsltd.acuityscheduling.com/schedule.php?appointmentType=1626782 Client Face
Community page access for the public...
Simon, I've now sorted logging in to the vault.. again! FYI. I have noticed when not logged in it is possible to download content from a post!? See attached pic. Regards Richard..
Profile pics on posts not showing up...
Simon, I have now added a picture in my profile but it is just showing a blank one! Richard..
Standard Loan agreement (JV)
Hello All, Following Simon's excellent session on Limited companies this evening opportune time to try the Vault. Although I live In Poole, I'm investing in the Hull (City of Culture!) area having lived there for my first 25 years and where my business partner is still based. Currently on 3rd flip and doing well -moving to holds later this year. Anyhow, my question is does anyone have a standard loan agreement template they can forward over. Looking forward to sharing useful tips with everyone.
Community screen name change?
Simon, How is the screen name changed? Richard..
Use of cash from Limited company
Hi guys, Hope you're all enjoying the sun. Hopefully a simple query for you. HSBC business banking had to cancel our Debit card (Ltd company) for whatever reason and replacement will take 6-10 days. Due to account type we have no other means to pay for goods (e.g. materials for property renovation). Therefore, I've asked my business partner to withdraw cash from the branch and pay for goods this way. Reconciliation whilst slightly more complicated will inevitably be done against receipts at later
Pension investments webinar recording
Hi all Please note that I have uploaded the webinar recording into the Vault for you to watch. Enjoy
Face to face meetings - London - Wednesday 31st August & Saturday 17th September
Bloomsbury, London Coram St, London WC1N 1HT Book by pressing on the below dates Wednesday 31st August 6pm - 9pm Saturday 17th September 9am - 12pm Face to Face Client get togethers This is a closed meeting exclusively for clients Understand the latest tax changes Listen to our views of the property industry Ask your burning property strategy / tax questions Meet fellow property investors in a closed network group Mastermind session to help you solve your property strategic questions There is a
Client face to face meetings - Nottingham - Saturday 3rd September and Wednesday 28th September
Nottingham J25, M1 Bostocks Lane, Sandiacre, Nottingham NG10 5NJ Book by pressing on the below dates Wednesday 28th September 6pm - 9pm Saturday 3rd September 9am - 12pm Face to Face Client get togethers This is a closed meeting exclusively for clients Understand the latest tax changes Listen to our views of the property industry Ask your burning property strategy / tax questions Meet fellow property investors in a closed network group Mastermind session to help you solve your property strategic
Face book community
Would it be better to have a face book group/community?
Monday Night Webinar - Use limited companies - now live in the vault
Hi all Just to let you know that I have now uploaded the Monday Night Webinar in the education & webinar section Enjoy
Optimise Property Investing guide with tax efficiency in mind - After budget announcement and Brexit
Previous editions of my ebook have required only minimal updating on a yearly basis, but the past year has brought so many changes — the reduction of mortgage interest relief, the Stamp Duty Land Tax (SDLT) surcharge, Brexit, to name just a few — that I felt it was time for a more comprehensive review. Download your copy here:
LTD companies
Hi I have some properties in our own name and just buying two adjacent properties in a ltd company. I have a couple of questions relating to the above scenario's. For each subsequent property I buy (medium/long term hold) should these be in separate companies or same company (want to avoid lots of separate companies / admin). If I buy a property to flip should this be in the same company? If I receive property management income in the future, should this go in to a separate or same company? M
Recording of the webinar "Property strategies post the 2015-16 budget announcement"
Hello all, Please go into the How To Guides and take the path to see tonight webinar recording... How to guides Finance & Tax tips Webinars & Education recordings Monday night webinars Property strategies post the 2015-6 budget announcement
How to classify keys and locks
Just trying to code for some new locks and separately some replacement keys for a different property. Would this be P&L or balance sheet? Because it's staying with the property is it therefore capital (ie balance sheet) or is it an ongoing repair (ie P&L)? Thanks
Monday Night Webinars from 18th July 2016
Hi all, Please click here to book your place on the Monday night webinars: Upcoming webinars 18th July - Property structures and investing strategies given the budget announcement - Click here
Allowable costs - Spreadsheet analyser
The most frequently asked question posed to us is "What costs may be offset against my income" As such we have developed and loaded a spreadsheet in the How to Guides section. Please see: How to guides Finance & Tax tips Types of tax Types of tax - Income Tax Allowable costs Warm regards Simon
Flipping properties? New spreadsheet to help you understand the best tax structure
Hi all, Please note that I have created a new spreadsheet to help you flip a property in the most tax efficient structure. This may be found here: How to guides Finance & Tax tips Property Strategies Strategy - Flipping properties Warm regards Simon
The new Vault and Community page
Hi all, Please note that the new Vault and community page has launched. Please watch the intro video to get the most out of this new platform: https://support.zoho.com/portal/optimisepropertytaxspecialists/helpcenter/optimise-accountants-co-uk/introduction-watch-this-first
More videos for every post
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Tax Allowances for Serviced Accommodation
Has anyone used any allowances to get out of paying mortgage payments for Serviced Accommodation?
How do i minimise tax
sdv
Welcome to Community
The Community hub inside Zoho Support lets you build a powerful community around your business, while still serving customers via other channels. Your customers can post 4 types of content within your community. These are Ideas, Questions, Problems and Discussions. Each of these serves a particular purpose. When your customers have something to discuss with you, they can post a discussion within your community. It's a great way to debate and collaborate. Your customers can ask you specific questions